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US property companies are heading to Tel Aviv to access a new source of competitive capital Back in 2006, Boaz Gilad, CEO of Brooklyn-based condominium developer Brookland Capital, met with a group of Israeli financial consultants to contemplate doing something that no US-based real estate owner or developer had done before: launch a bond in Israel to raise […]
Enterprise Finance, the mortgage broker backed by ISIS Equity Partners, is bidding to tap the growing market for bridging finance for property development following the takeover of specialist lender West One Loans. Enterprise, which is the UK’s largest specialist distributor of secured loans, has funded the transaction through a combination of cash and equity although […]
Real estate debt funds targeting Europe have already raised more capital in 2014 than in any year since the downturn, according to research from Real Estate Capital’s parent PEI Media Research and Analytics. In the first half of 2014 alone $9.97bn was raised by funds targeting Europe, accounting for 53% of all real estate debt funds […]
Three German banks have added €208m of bank funding at a competitive all-in cost of 2.2% to the Segro European Logistics Partnership (SELP), Real Estate Capital can reveal. Helaba, Aareal and Deutsche Pfandbriefbank, all existing lenders to the joint venture between the UK REIT and Canadian pension fund PSP, have provided the additional finance. The […]
A group led by Bank of America has provided developer John O’Donnell of O’Donnell Investment Co. with a $296m loan for the construction of a 53-story riverfront office tower in Chicago, Illinois. Bank of America partnered with German bank Helaba and British-owned American bank RBS Citizens. The financing takes the form of a four-year, floating […]
Beacon Capital Partners France has refinanced the country’s tallest office tower through a €600m refinancing package from pbb Deutsche Pfandbriefbank, Aareal Bank and Blackstone Real Estate Debt Strategies. A maturing loan secured against First Tower in Paris’s La Défense business district, was replaced with €515m of senior debt and an €85m mezzanine loan. The 758 […]
Blackstone Mortgage Trust has made its entry into continental Europe, issuing its first loan there, on an office portfolio in the Netherlands. Blackstone’s US REIT provided a €28m senior loan for joint venture partners Angelo, Gordon and Valad Europe, secured on the Equinox portfolio of nine Dutch office buildings. In May the investors paid €37m for the […]
A trio of banks have supplied Kennedy Wilson Europe Real Estate with £225m, in the listed investor’s first corporate debt facility. Bank of America Merrill Lynch, Deutsche Bank and JP Morgan have put in place a three-year, unsecured, floating rate revolving facility of up to £225m. The company intends to use the funds for general […]
The Commercial Real Estate Finance Council Europe (CREFC) has submitted its response to the Bank of England’s discussion paper examining the availability of credit data in the UK Headed by chief executive Peter Cosmetatos, CREFC’s response advocates establishing a loan database for commercial real estate financings and suggests that this resource should use CREFC’s European […]
Point Park Properties (P3) has sealed a €380m financing for its purchase of a 627,000 sq m logistics portfolio in Czech Republic in a new benchmark deal for the cycle in Eastern Europe. A club of three Czech banks fought off competition from German rivals to secure the mandate which is one of the largest and most competitively […]